Soaring Home Prices Roiling Appraisals, Upending Sales
In Aug., 13% of appraisals came in below a home’s contract price. It was higher in May (19.7%), but is still up compared to sales early last year (7.3% in Jan. 2020).
Institutional Single-Family Rentals Have Come of Age
Before the Great Recession, mom-and-pop investors owned most single-family home rentals. But today, large institutional investors have turned it into a big business.
Small Businesses Less Optimistic as Inflation, Labor Take Toll
Business is good, according to NFIB’s monthly study – but it would be better for small companies if they could get more workers and not worry about inflation.
Many Bathroom Remodels Are Really More of an Upgrade
Survey: Remodeling skyrocketed during lockdowns with many homeowners focused on their bathrooms. The desire to “soak in a bathtub” rose 6 percentage points.
Redfin Expands Program Allowing Buyers to Self-Tour Homes
Buyers are allowed to tour vacant homes without an agent. Redfin’s app unlocks the door, and an agreement with ADT provides monitoring and security.
S. Fla. Condo Sales Unfazed by Surfside Condo Collapse
After the 12-story Surfside condo complex collapsed, experts wondered if condo demand would decline – but 3Q Miami-Dade condo sales were the highest in years, with luxury units selling at a record pace. Any stigma seems isolated to older inventory and buildings close to the Surfside tragedy.